Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2024

• 1 October 2024 12:18 am

  Market Drivers; US Session, September 30

  

  For the second day in a row, the price of gold declines as month-end flows favor the US dollar despite declining US Treasury yields. However, September is expected to be the strongest month for the golden metal since March 2024, when prices increased by more than 9%. Monthly gains of …

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September, 2024

• 30 September 2024 11:02 pm

  Will Japan’s Yen Continue to Decline?

  

  The USD/JPY pair has been rising since the start of the American trading session in the currency market, driven by the increase in US Treasury yields. This is due to the positive relationship between the pair and the yields on these government bonds, highlighting the weakness of the Japanese yen.US …

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• 30 September 2024 10:21 pm

  Jerome Powell’s Comments Praise Fed’s Cautious Approach

  

  Fed Chair Jerome Powell reiterated that inflation has been broadly defeated and that recent data indicate further progress toward a sustained return to 2% core goods prices have fallen a half percent over the past year, close to their pre-pandemic pace, as supply bottlenecks have eased outside of housing services. …

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• 30 September 2024 9:53 pm

  Gold resorts to correction amid Chinese focus on equi

  

  The recent surge in gold prices, culminating in a record high of $2,685 last week, is now encountering headwinds. A combination of factors, including a rally in Chinese equities and a more optimistic outlook for the Chinese property market, has diverted investor attention away from the precious metal despite its …

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• 30 September 2024 8:54 pm

  Wall Street Edges Lower Ahead of Powell’s Comments

  

  Wall Street’s main indexes were flat to lower in choppy trading on Monday as investors paused after the previous week’s rally and exercised caution ahead of numerous job reports and comments through the week from Federal Reserve policymakers, including Chair Jerome Powell. Monday’s US market indices were neutral as traders …

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• 30 September 2024 7:49 pm

  Bitcoin Ends Volatile September with a Mixed Bag of Gains and Losses

  

  Bitcoin experienced a significant price dip in September, falling to near $63,000. This decline was attributed to technical overbuying conditions and a broader market correction. Despite this temporary setback, the cryptocurrency remains on track for its strongest September in several years, with gains of over 7% for the month. On …

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• 30 September 2024 6:54 pm

  GBP/USD Steadies Ahead of Powell’s Speech

  

  The Pound Sterling (GBP) struggled to surpass the 1.3400 mark against the US Dollar (USD) as investors anxiously awaited the Federal Reserve’s (Fed) interest rate guidance. Despite recent signs of easing inflation, the Fed’s fight against rising prices continues. While the overall inflation rate decreased, the core inflation measure, which …

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• 30 September 2024 4:39 pm

  German Inflation Eases in September, Supporting ECB Case for Potential Rate Cut

  

  Preliminary data showed that inflation eased across key German states in September, indicating a possible decline in inflation rates across Germany as a whole, the largest economy in Europe. This development strengthens the argument of the European Central Bank (ECB) policymakers who are advocating for another rate cut. Key State …

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• 30 September 2024 1:17 pm

  U.S. Dollar Steadies as Markets Await Fed Chair Powell’s Speech and Key Employment Data

  

  The U.S. dollar remained steady on Monday as traders awaited a speech from Federal Reserve Chair Jerome Powell later in the day and anticipated Friday’s crucial employment report. As of 04:25 ET (08:25 GMT), the Dollar Index, which measures the dollar against a basket of six other major currencies, traded …

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• 30 September 2024 11:46 am

  European Shares Dip Amid Economic Data Focus and Auto Sector Weakness

  

  European stocks opened lower on Monday as investors braced for a week filled with key economic data releases from the region, while awaiting remarks from European Central Bank (ECB) President Christine Lagarde. By 07:10 GMT, the pan-European STOXX 600 index had slipped 0.1% to 527.47 points. Despite this slight dip, …

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• 30 September 2024 10:44 am

  Oil Prices Rise Amid Middle East Tensions and Supply Concerns

  

  Oil prices rose on Monday, fueled by escalating worries over potential supply disruptions from Middle East producers after Israel intensified its attacks on Iranian-backed forces in the region. As of 03:30 GMT, Brent crude futures for November delivery climbed by 51 cents, or 0.71%, to $72.49 a barrel. The more …

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• 29 September 2024 11:52 pm

  Financial Markets Weekly Recap: US Data supports Fed’s inclination to more aggressive rate cut

  

  Last week, risk assets and gold emerged as the clear winners over the dollar in the financial markets race. This was fueled by recent economic data releases from the United States, which reinforced the perception of price stability and strengthened the likelihood of continued interest rate cuts by the Federal …

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• 27 September 2024 11:31 pm

  Dollar Under Pressure as Inflation Data Shows Cooling Trend

  

  The US Dollar (USD) faced downward pressure following the release of August’s Personal Consumption Expenditure (PCE) data, a preferred inflation indicator for the Federal Reserve. The headline PCE inflation rate came in below expectations, suggesting a potential cooling in price pressures.The softer-than-anticipated inflation data has led to a reevaluation of …

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